No Documentation Refinance home loans allow borrowers who find it difficult or disadvantageous to document their income to qualify for competitive mortgages without providing any Income or Asset documentation.

These types of loans are ideal when personal information, regarding assets do not want to be disclosed for privacy reasons.

This type of loan can also be used to streamline the process...

When applying for a no documentation loan, be sure to ask your mortgage professional what types of altermative to full documentation loans they offer. You may find that you qualify for a program that is an alternative to a full documentaion loan that will give you a much better rate than a true no documentation loan. i.e.- limited doc, stated, stated/verified assets, etc.

True no documentation loans temd to be priced the highest when it comes to interest rate.

Although many lending standards for no-doc loans have tightened as of late, there are still many no-documentation loan programs available.

Many borrowers "think" that they want a 'no documentation' loan, when in actuality they need a 'no income verification' loan.
A 'no income verification' can refer to a 'stated' loan program, where employment is verified, but income is not.
Chack with your mortgage professional at or info@themortgageinfoguide.com to see which would best fit your needs.

In addition to no documentation loans, stated income loans, no ratio loans, and full income documentation loans some lenders will also offer a bank statement income documentation program. A bank statement program will total up your deposits for a specified period of time, usually 6, 12, or 24 months and then divide by the corresponding number of months and then they will use this figure for your average monthly income. This may be a better alternative to a no doc loan or a stated income loan if you can verify a stable job history and enough money coming in to qualify you.

There are actually programs available that will give you normal rates with less required documentation. These programs however are usually capped at 80% of the property value and require credit scores of 720 and higher.